XPO reports revenue growth

North America's largest logistics company, XPO Logistics, has reported total revenue of $7.3 billion (€6.2 billion) for the six months ended June 30, 2017 a one per cent increase from the same period in 2016.

The company reported US$3.76 billion (€3.2 billion) for Q2'17, compared with US$3.68 billion (€3.14 billion) for the same period in 2016.

The results have prompted XPO to raise its full year targets for adjusted EBITDA to at least US$1.365 billion (€1.164 billion) in 2017 and at least US$1.6 billion (€1.364 billion) in 2018.

"Our strong start to the year accelerated in the second quarter, with record results for revenue, net income and adjusted EBITDA," said Bradley Jacobs, Chairman and Chief Executive Officer of XPO Logistics.

"The most notable growth came in last mile and contract logistics - two fast-growing parts of the supply chain where we hold leading positions in e-commerce. Importantly, we're continuing to grow adjusted EBITDA faster than revenue in both transportation and logistics.

"In North American less-than-truckload, we increased volume while improving the adjusted operating ratio to 84.6 per cent. This is the best quarterly adjusted operating ratio for our LTL business in at least two decades."

The company's transportation segment generated revenue of $2.41 billion (€2.05 billion) in Q2'17, compared to $2.42 billion (€2.06 billion) for the same period in 2016, which included $133.4 million (€113.7 million) of revenue from the North American truckload unit divested on October 27, 2016.